AT&T (NYSE:T) Price Target Raised to $34.00

AT&T (NYSE:T) had its price objective hoisted by research analysts at Barclays from $31.00 to $34.00 in a note issued to investors on Friday, The Fly reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target suggests a potential upside of 8.42% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Raymond James reissued a “buy” rating on shares of AT&T in a research note on Monday, March 15th. Oppenheimer reissued a “market perform” rating on shares of AT&T in a research note on Wednesday, March 3rd. CIBC reissued a “buy” rating on shares of AT&T in a research note on Wednesday, February 10th. Credit Suisse Group cut their target price on AT&T from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 19th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on AT&T from $36.00 to $31.00 in a research note on Monday, February 8th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. AT&T has an average rating of “Hold” and a consensus price target of $31.59.

Shares of NYSE:T opened at $31.36 on Friday. The stock’s 50-day moving average price is $30.01 and its 200-day moving average price is $29.03. AT&T has a 12-month low of $26.35 and a 12-month high of $33.24. The stock has a market capitalization of $223.65 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.78.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 21st. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.08. The firm had revenue of $43.90 billion for the quarter, compared to analysts’ expectations of $42.69 billion. AT&T had a return on equity of 12.27% and a net margin of 6.42%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. As a group, research analysts predict that AT&T will post 3.17 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of AT&T by 0.8% in the 4th quarter. BlackRock Inc. now owns 485,568,654 shares of the technology company’s stock worth $13,964,955,000 after purchasing an additional 3,666,423 shares in the last quarter. Morgan Stanley lifted its position in AT&T by 4.9% in the 4th quarter. Morgan Stanley now owns 78,703,060 shares of the technology company’s stock valued at $2,263,501,000 after acquiring an additional 3,680,978 shares in the last quarter. Norges Bank bought a new position in AT&T in the 4th quarter valued at approximately $2,019,873,000. Bank of New York Mellon Corp lifted its position in AT&T by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 61,404,948 shares of the technology company’s stock valued at $1,766,006,000 after acquiring an additional 1,360,766 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in AT&T by 5.3% in the 4th quarter. Nuveen Asset Management LLC now owns 37,240,494 shares of the technology company’s stock valued at $1,071,036,000 after acquiring an additional 1,870,844 shares in the last quarter. 51.17% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.

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